Pennsylvania § 6245 - Late charges.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 6245 — Late charges., with citation guidance and answers to common questions.
§ 6245. Late charges.
(a) General rule.--A late charge may be collected on the following:
(1) An installment payment that is not paid on or before the due date of the payment.
(2) A contract subject to this chapter, regardless of the classification of vehicle under section 6243 (relating to finance charges) or the method by which the finance charge is computed.
(b) Rate and computation.--
(1) Under a contract for the sale of a motor vehicle other than a heavy commercial motor vehicle, a late charge may not, for any payment not made within ten days of its scheduled due date, exceed the rate of 2% on the amount of the payment in arrears.
(2) Under a contract for the sale of a heavy commercial motor vehicle, a late charge may not, for any payment not made within ten days of its scheduled due date, exceed the rate of 4% of the amount of the payment in arrears.
(3) The late charges under paragraphs (1) and (2) may be collected only once on each payment in arrears.
(c) Collection.--
(1) Late charges may be:
(i) collected when earned during the term of a contract for the sale of a motor vehicle; or
(ii) accumulated and collected at final maturity or at the time of final payment under a contract for the sale of a motor vehicle.
(2) A late charge may not be collected on a payment in default because of an acceleration provision in the contract.
Frequently Asked Questions About Pennsylvania § 6245
What does Pennsylvania Consolidated Statutes § 6245 cover?
Section 6245 ("Late charges.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 6245?
A common citation format is "Pennsylvania Consolidated Statutes § 6245" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 6245 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.